CALGARY, Dec. 12, 2013 /CNW/ - Pathfinder Convertible Debenture Fund announced that it has filed a notice with the Toronto Stock Exchange (the "TSX") and received its approval to make a normal course issuer bid ("NCIB"). Purchases pursuant to the NCIB will be made in the open market through the facilities of the TSX, Alpha and/or alternative trading systems. This NCIB will commence on December 14, 2013 and will terminate on December 13, 2014. In accordance with the Declaration of Trust by which the Fund is governed, market purchases pursuant to its NCIB may be effected by the Fund.
The Fund had 8,606,842 units issued and outstanding as at December 6, 2013. The Fund may, during the 12 month period commencing December 14, 2013 purchase on the TSX up to 860,684 units, being 10% of the public float and may not, in any 30 day period, purchase more than 172,136 units, being 2% of the units issued and outstanding. Pathfinder will hold in treasury for resale all units purchased pursuant to the bid. As at December 6, 2013 the Fund had purchased 367,100 units at an average price of $10.90 per unit under its previously approved normal course issuer bid. Pathfinder is implementing the NCIB to allow it to purchase units if and when it makes sense to do so.
Pathfinder trades on the Toronto Stock Exchange under the symbol "PCD.UN".
SOURCE: Pathfinder Convertible Debenture Fund
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